Analog Devices (NASDAQ:ADI) Releases Earnings Results, Beats Estimates By $0.08 EPS

Analog Devices (NASDAQ:ADI – Get Rating) released its earnings results on Wednesday. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.08, RTT News reports. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.21 billion. Analog Devices had a return on equity of 14.69% and a net margin of 27.27%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 earnings per share. Analog Devices updated its Q3 guidance to $2.42-2.62 EPS.

Analog Devices Price Performance

Shares of NASDAQ ADI opened at $172.39 on Friday. Analog Devices has a fifty-two week low of $133.48 and a fifty-two week high of $198.24. The business has a 50 day moving average price of $186.11 and a two-hundred day moving average price of $176.80. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. The firm has a market cap of $87.20 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.15.

Analog Devices Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Monday, June 5th will be paid a dividend of $0.86 per share. The ex-dividend date is Friday, June 2nd. This represents a $3.44 dividend on an annualized basis and a yield of 2.00%. Analog Devices’s dividend payout ratio (DPR) is presently 51.89%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, Director James Champy sold 1,495 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total transaction of $277,232.80. Following the completion of the sale, the director now owns 6,371 shares in the company, valued at approximately $1,181,438.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director James Champy sold 1,495 shares of Analog Devices stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $185.44, for a total value of $277,232.80. Following the completion of the transaction, the director now owns 6,371 shares in the company, valued at approximately $1,181,438.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 26,250 shares of Analog Devices stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $187.01, for a total value of $4,909,012.50. Following the completion of the transaction, the chief financial officer now owns 23,871 shares of the company’s stock, valued at approximately $4,464,115.71. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Institutional Trading of Analog Devices

Hedge funds have recently made changes to their positions in the stock. Fortis Capital Advisors LLC bought a new stake in shares of Analog Devices in the 1st quarter worth approximately $31,000. Quarry LP raised its stake in Analog Devices by 267.4% during the 1st quarter. Quarry LP now owns 169 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Analog Devices during the 1st quarter valued at $39,000. Worth Asset Management LLC bought a new stake in Analog Devices during the 1st quarter valued at $33,000. Finally, Live Oak Investment Partners bought a new stake in Analog Devices during the 4th quarter valued at $48,000. Institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADI shares. The Goldman Sachs Group lifted their price target on Analog Devices from $186.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Susquehanna decreased their price target on Analog Devices from $225.00 to $215.00 in a research note on Wednesday. KeyCorp decreased their price target on Analog Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday. Raymond James boosted their target price on Analog Devices from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Finally, Stifel Nicolaus decreased their target price on Analog Devices from $225.00 to $210.00 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.17.

About Analog Devices

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Analog Devices, Inc is a global high-performance semiconductor company, which engages in the design, development, manufacture, and marketing of integrated circuits (ICs). It produces a range of innovative products, including data converters, amplifiers and linear products, radio frequency (RF) ICs, power management products, sensors based on micro electromechanical systems (MEMS) technology and other sensors, and processing products, including DSP and other processors.